No. 30: Kinder Morgan, Houston: Fortune said Kinder Morgan, which is ranked 265 overall, made approximately $10.2 billion in revenue in 2012.

No. 30: Kinder Morgan, Houston: Fortune said Kinder Morgan, which is ranked 265 overall, made approximately $10.2 billion in revenue in 2012.

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Valero hits Fortune's Top 10

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Valero Energy Corp. earned more bragging rights Monday when it cracked the Top 10 of the Fortune 500 for the first time.

The San Antonio refiner snared ninth place, up from No. 12 last year, based on its 2012 revenue of $138.3 billion.

The ranking put Valero ahead of Ford Motor Co., which came in at No. 10, and just behind General Electric Co., at No. 8.

“It's always nice to get recognition like that,” Valero spokesman Bill Day said Monday. “It's the first time I can remember that we have been in the Top 10.

“And the fact that we're around such household names as General Motors, General Electric and Ford — those are all great American companies,” he said. “It's an honor to be mentioned in company like that.”

About Valero, Fortune said: “The refining giant is going through some big changes. Earlier this year, Valero announced that it planned to spin off its retail business, called CST Brands, a move that the board approved in April 2013.

“Shareholders like the strategy, and the company's share price has been increasing, overall, since the initial announcement.

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“Valero remains the world's largest independent refiner, with 16 refineries and ethanol plants across the U.S., Caribbean, the United Kingdom and Canada.

“Profit margins continue to be tight for the refining business, but as more and more oil and gas companies shed their refineries, Valero remains one of the most powerful games in town.”

Other locally based companies made the list, including Tesoro Corp., which ranked No. 95, a jump from its last ranking of 101.

USAA ranked No. 139, with revenue of $20.7 billion, while pipeline company NuStar Energy LP came in at No. 389, dropping from the 377th spot, with revenue of $6.5 billion.

CC Media Holdings, with revenue of $6.2 billion, fell to 407th place from 394.

Next year, Valero spinoff CST Brands, which owns fueling stations and convenience stores in the United States and Canada, looks like a Fortune 500 shoo-in, based on its 2012 revenue of more than $13 billion.

The company's stock began trading Thursday on the New York Stock Exchange.

Once again, Wal-Mart Stores Inc. reigned supreme among the Fortune 500, moving from No. 2 into the No. 1 spot, with revenue of $469.2 billion.

According to Fortune, Wal-Mart, the world's biggest retailer, has held the top spot nine times since 1955, swapping only with the oil giant Exxon Mobil (13 times) and Detroit stalwart General Motors (37 times).

As part of Fortune's 2013 lineup, Facebook and Priceline.com made their debuts on the list, while Eastman Kodak didn't make it for the first time since the list began in 1955.

The most profitable company on the list was Exxon Mobil with $44.88 billion in net income and Apple with $41.73 billion.